What we have here is classic case of "mining" the shareholders. How do we do that?
1. If the market had been in a wonderful rally, would these wa**k**s have moved the raising/underwriting from 3 cents to a higher price. Not a chance. How is it that they can reduce it when the price drops? If they had out-clauses then the current borad are even bigger wa**k**s for not discloing it to shareholders when they made the first announcement.
2. This company is going to issue an absolute truckload of shares to purchase ground that no discussion/disclosure or due diligence appears to have been carried out on.
This is a cosy deal between RASL and the incoming party with the rest of the board sitting there with their hands firmly around their nuts. Monkey see nothin, hear nothing and do nothing stuff.
RASL doesn't give a toss about the vending in of absolute ground zero crap Asian moose pasture because its leaving.
There is plenty going on here that isn't being disclosed. The chareholders are being treated with contempt.
Shareholders now get a TRIPPLE shafting.
1. Raising at a much reduced price (new stock will mostly end up with these tossers coming in). A bucket of options still get issue.
2. Issue a truck loand of shares for what will no doubt turn out to be laughable worthless ground in third rate soverign risk locations.
3. To finish the shafting, they do a consolidation in the middle of a market meltdown.
Fair dinkum, where did the cat drag this mob in from?
KAL Price at posting:
11.0¢ Sentiment: Sell Disclosure: Held
